Mark Zuckerberg: “Get ready for a deep recession in the economy”

Mark Zuckerberg warned that everyone should prepare for “deep economic recession”. He even announced hiring for 30% fewer employees at Meta companies (Facebook, Instagram, Whatsapp).

According to Zuckerberg, Meta has reduced its 2022 hiring request for engineers by about 6,000 to 7,000 people from its original plan to hire about 10,000 new computer specialists.

Meta “We will need to be more aggressive about our priorities” and work with “smaller, more efficient and less demanding executive teams” wrote product and service development manager Chris Cox in the same internal memo that appeared at the staff meeting.

I want to note that we are going through difficult times here, and a strong headwind is blowing. It is necessary to work unhindered in an environment of lower economic growth, when teams must expect a large influx not of new engineers, but of budgets, ”- wrote Cox.

This internal memorandum “was aimed at shaping the environment in relation to what the company has publicly announced its earnings in relation to the challenges it faces, as well as the opportunities we have in relation to the broader areas of action to address the situation”, a spokesperson for Meta said in a statement.

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